The worst recessions after World War II occurred
A) during 1945-1946 and 1973-1975.
B) during 1957-1958 and 1973-1975.
C) during 1973-1975 and 1981-1982.
D) during 1945-1946 and 1981-1982.
C
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Slick Shades has a constant marginal cost of production equal to $80 and the distributors have a constant marginal cost of distribution equal to $30. If Slick Shades vertically integrates with the perfectly competitive distributors, the profit-maximizing quantity will be ________ the profit-maximizing quantity if they did not vertically integrate and the combined firm will earn ________ profit if
they did not vertically integrate.
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) the same as; greater
B) greater than; the same
C) the same as; the same
D) greater than; greater
If all large firms in the economy were broken into smaller firms, the result might be
a. decreased manufacturing efficiency in some industries. b. increased prices for some manufactured goods. c. decreased investment in research and development in some industries. d. All of the above are correct.
Suppose that the US market for soybeans is not open to international trade. Currently, soybeans sell for $6.00 per bushel in the US and the world price for soybeans is $8.00 per bushel. This information implies that
a. the US has an absolute advantage in the production of soybeans and if the market opens to international trade, the US would export soybeans. b. the US does not have an absolute advantage in the production of soybeans and if the market opens to international trade, the US would import soybeans. c. the US has a comparative advantage in the production of soybeans and if the market opens to international trade, the US would export soybeans. d. the US does not have a comparative advantage in the production of soybeans and if the market opens to international trade, the US would import soybeans.
Which of the following best exemplifies the relationship between a capital good and a consumer good or service?
a. A smartphone and an earplug b. A brand new Dell computer and printer c. A Caterpillar earth-moving front loader and its operator d. A commercial baking oven and loaves of bread